The latest snapshot produced by PropTech firm Goodlord shows “huge gains for the lettings market” since transactions resumed a month ago.
The first fortnight in June has seen both new and completed applications surging above 2019 levels, marking a rapid bounce back for the rental market, with agents responding to months of pent up demand.
Demand for rental properties has steadily gained paced with the single busiest day for new applications being June 2, when they hit 112 per cent of the volumes recorded on the same day in 2019.
The busiest day for completed lets to date was June 10 when activity levels reached 124 per cent of that recorded on the same day in 2019.
Goodlord says new applications now appear to have reached equilibrium, running at roughly the same level as last year for the past fortnight.
Throughout June, completed lets have been running at an average of 94 per cent of 2019 levels, with numbers increasing significantly since June 7.
On each day between June 7 and June 13, completed lets have remained higher than the 2019 average.
This post has originally been featured in Letting Agent Today.